,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #gc  ,,9 ,,! ,,h\se ,,(             
,,repres5tatives  ,janu>y #c1 #bjac ,mr4
 ,br\n ( ,georgia introduc$ ! foll[+    
bill2 :i* 0 ref]r$ to ! ,committee on   
,f9ancial ,s]vices  ,a ,,bill  ,to      
aboli% ! ,bo>d ( ,gov]nors ( ! ,f$]al   
,res]ve ,sy/em & ! ,f$]al res]ve banks1 
to repeal ! ,f$]al ,res]ve ,act1 & = o!r
 purposes4  #a4 ,%ort title ,?is ,act   
may be cit$ z ! ,f$]al ,res]ve ,bo>d    
,abolition ,act4  #b4 ,f$]al ,res]ve    
,bo>d aboli%$  7a7 ,9 ,g5]al ,effective 
at ! end ( ! #a-ye> p]iod beg9n+ on !   
date ( ! enactm5t ( ?is ,act1 ! ,bo>d ( 
,gov]nors ( ! ,f$]al ,res]ve ,sy/em &   
ea* ,f$]al res]ve bank are h]eby        
aboli%$4  7b7 ,repeal ( ,f$]al ,res]ve  
,act ,effective at ! end ( ! #a-ye>     
p]iod beg9n+ on ! date ( ! enactm5t (   
?is ,act1 ! ,f$]al ,res]ve ,act is h]eby
 repeal$4  7c7 ,disposition ( ,affairs  
7#a7 ,managem5t dur+ dissolution p]iod  
,dur+ ! #a-ye> p]iod ref]r$ to 9        
subsection 7a71 ! ,*airman ( ! ,bo>d (  

,gov]nors ( ! ,f$]al ,res]ve ,sy/em--   
7,a7 %all1 = ! sole purpose ( w9d+ up ! 
affairs ( ! ,bo>d ( ,gov]nors ( ! ,f$]al
 ,res]ve ,sy/em & ! ,f$]al res]ve       
banks--  7i7 manage ! employees ( !     
,bo>d & ea* su* bank & provide = !      
paym5t ( comp5sation & b5efits ( any su*
 employee :i* accrue be=e ! position (  
su* employee is aboli%$2 &  7ii7 manage 
! assets & liabilities ( ! ,bo>d & ea*  
su* bank until su* assets & liabilities 
are liquidat$ or assum$ by ! ,secret>y (
 ! ,treasury 9 accordance ) ?is         
subsection2 &  7,b7 may take su* o!r    
action z may be necess>y1 subject to !  
approval ( ! ,secret>y ( ! ,treasury1 to
 w9d up ! affairs ( ! ,bo>d & ! ,f$]al  
res]ve banks4  7#b7 ,liquidation (      
assets  7,a7 ,9 g5]al ,! ,director ( !  
,(fice ( ,managem5t & ,budget %all      
liquidate all assets ( ! ,bo>d & !      
,f$]al res]ve banks 9 an ord]ly mann] s 
z to a*ieve z exp$iti\s a liquidation z 
may be practical :ile maximiz+ ! return 
to ! ,treasury4  7,b7 ,transf] to       

treasury ,aft] satisfy+ all claims aga9/
 ! ,bo>d & any ,f$]al res]ve bank :i*   
are accept$ by ! ,director ( ! ,(fice ( 
,managem5t & ,budget & r$eem+ ! /ock (  
su* banks1 ! net proce$s ( ! liquidation
 "u subp>agraph 7,a7 %all be transf]r$  
to ! ,secret>y ( ! ,treasury & deposit$ 
9 ! ,g5]al ,fund ( ! ,treasury4  7#c7   
,assumption ( liabilities ,all out/&+   
liabilities ( ! ,bo>d ( ,gov]nors ( !   
,f$]al ,res]ve ,sy/em & ! ,f$]al res]ve 
banks at ! "t su* entities are aboli%$1 
includ+ any liability = retirem5t & o!r 
b5efits = =m] (fic]s & employees ( !    
,bo>d or any su* bank 9 accordance )    
employee retirem5t & b5efit programs ( !
 ,bo>d & any su* bank1 %all become !    
liability ( ! ,secret>y ( ! ,treasury & 
%all be paid f am\nts deposit$ 9 ! g5]al
 fund pursuant to p>agraph 7#b7 :i* are 
h]eby appropriat$ = su* purpose until   
all su* liabilities are satisfi$4  7d7  
,report ,at ! end ( ! #ah-mon? p]iod    
beg9n+ on ! date ( ! enactm5t ( ?is     
,act1 ! ,secret>y ( ! ,treasury & !     

,director ( ! ,(fice ( ,managem5t &     
,budget %all submit a jo9t report to !  
,congress conta9+ a detail$ description 
( ! actions tak5 to implem5t ?is ,act & 
any actions or issues relat+ to su*     
implem5tation t rema9 uncomplet$ or     
unresolv$ z ( ! date ( ! report4